Tax Rates & Allowances 2014/15
|Working Tax Credit|
|Basic element - max.||1,940||1,920|
70% of eligible costs up to £175 per week (£300 if two or more children).
|Child Tax Credit (CTC)|
|Child element per child - max.||2,750||2,720|
Reductions in maximum rates
41% of income above £6,420* p.a.
*If only CTC is claimed, the threshold is £16,010 (£15,910) p.a. The family element of CTC tapers immediately after the child element at a rate of 41%.